Yonge Street Capital Corp.

August 17, 2007 13:40 ET

Yonge Street Capital Corp.: Corporate Update-Stemergy LOI Expiration

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2007) - Yonge Street Capital Corp. ("Yonge Street")(TSX VENTURE:YSC.P), a capital pool company, announces a corporate update.

Yonge Street advises that its letter of intent ("LOI") with Hempline Inc. (operating as "Stemergy") has expired. Stemergy has expressed interest in continuing a dialog with Yonge Street but has declined to renew the expired LOI at this time. Under the circumstances Yonge Street remains open to a future arrangement with Stemergy but will also explore other options.

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

Further information concerning Yonge Street can be found in the prospectus of Yonge Street dated March 27, 2006 and at www.sedar.com.

The TSX Venture Exchange has not approved or disapproved the contents of this news release.

Contact Information

  • Yonge Street Capital Corp.
    Gerald Ruth
    President, CEO and Director
    (416) 899-3304